Citigroup continues energy push with environmental hire
Citigroup Inc., which in June pledged $50bn to invest in energy saving projects over the next 10 years, has appointed a head of environmental and regulatory affairs, the latest in a string of hires to its commodities business since Paul Mead joined from Barclays Capital to lead the division last year.
The US financial services giant has recruited Paul Dawson, also from Barclays Capital, where he worked as a director of commodities regulation. Dawson, who is also vice-chairman of the International Emissions Trading Association, will work on regulatory and environmental issues with Citi's commodities teams in Houston and Singapore.
John Casaudoumecq, Citi's global head of commodities, moved from New York to London in April to support and oversee the expansion of its European division. At the same time, Mead revealed plans to bring in up to 10 recruits for the European business.
Casaudoumecq said of Dawson: "His depth of experience, particularly in areas such as C02, will add significantly to what we can offer our clients." In June, Citi revealed plans to pour up to $50bn into green projects, including rolling investments in clean energy, alternative technologies and affordable home equity loans to make homes more energy efficient.
The markets and banking division is also expected to support companies working in alternative energies such as solar, wind, hydro, and the geothermal sector. The division will facilitate investments in ageing infrastructures using clean and more efficient technologies.
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